Damn, It Feels Good To Be Steve Schwarzman

It's still very good to be the head of the Blackstone Group. Steve Schwarzman tops the Corporate Library's list of highly paid executives with $702.4 million last year.

Despite criticism of hedge funds and private-equity firms from labor unions and European politicians, it's clear that the real problems in our financial system didn't stem from the lightly regulated sectors but from the most regulated sectors.

(A boring explanation of an inside joke: Long ago the Wall Street Journal profiled Steve Schwarzman, describing his lunches as including $400 of crab claws. I came up with the idea that we should use Photoshop to attach crab claws to Schwarzman's hands--you are what you eat. Later, we just figured any scary crab picture would do.)